Dignity Sciences Financing
Dignity Sciences Completes 8 Million Euro Financing to Develop Next-Generation Dermatological Therapies
Provides sufficient capital to complete the DS107 Phase II programs and expand its portfolio
Dublin,Ireland, March 1, 2012 – Dignity Sciences Ltd, a privately held clinical-stage biopharmaceutical company, announced today that it has completed an €8.0 million financing led by its existing investors. The financing will be used primarily for the completion of the Phase II program of DS107 in both acne and atopic dermatitis. The financing will also support preclinical research for Dignity Sciences’ follow on compounds and growing therapeutic area portfolio. The total raised by Dignity Sciences to date for its research and development program is €12.0 million.
Jonathan Rowe, Ph.D., Head of Intellectual Property and Portfolio Strategy for Dignity Sciences, stated, "The Dignity Sciences team has generated encouraging data that has led the company and its investors to decide to further advance the DS107 program. This financing will allow Dignity Sciences to commence its Phase II programs this year for acne and atopic dermatitis. In those two indications, there is a medical need for new therapies that are efficacious, have minimal side effects and are safe for long term use. DS107 is being positioned to fulfill that medical need.”
Acne is a chronic disease that affects up to 80% of adolescents and may be observed in more than 40% of adults. Acne arises from the interaction of four factors: excess sebum production; pore obstruction, increased proliferation of the bacterium P acnes; and inflammation. The presence of acne can give rise to severe psychological consequences and may impair the patients' quality of life; therefore, successful treatment will promote much more than just cosmetic benefit.
About Atopic Dermatitis
Atopic dermatitis is a chronic inflammatory skin disease that leads to the skin becoming itchy and the resulting scratching leads to redness, swelling, cracking, and “weeping” clear fluid. Atopic dermatitis is common, affecting males and females at almost equal rates. Atopic dermatitis most often begins in infancy and childhood. There are estimates that between 10 to 20 percent of infants and young children experience symptoms of atopic dermatitis. More than half of these patients continue to have one or more symptoms of atopic dermatitis in adulthood.
DS107 is a topical formulation of a semi-synthetic omega-6 fatty acid derivative. DS107 is currently being studied for use in treating acne and atopic dermatitis.
About Dignity Sciences
Dignity Sciences, a privately held biopharmaceutical company, was established to discover and develop scientifically innovative healthcare solutions that improve the quality of life for people with diseases for which current therapies are unsatisfactory. Dignity Sciences is led by recognized experts in developing omega-6 and omega-3 fatty acids, including their bioactive derivatives, for the treatment of human disease.